Inhabit Real Estate
THE GREEN SHEET
Your Home is Here
Jan/Feb Issue | 2024
The The Green Green Sheet Sheet || Inhabit Inhabit Real Real Estate Estate
MESSAGE FROM OUR FOUNDER As a lifelong resident of San Clemente, there are many things to be grateful for looking back at 2023. At Inhabit Real Estate we believe in supporting the community we live, work, and play in as part of our 1Habit Community Fund. Last year, we participated in supporting the Mako Foundation, Boys and Girls Club, SCHS Educational Foundation, Exchange Club, and the Pet Project Foundation and anywhere else we could lend a hand or provide financial help. We thank you for your support in our business so we could make this possible. Looking forward to the coming year, the real estate landscape in San Clemente is poised for a dynamic shift, influenced by a cooling economy, fluctuating interest rates, and evolving market trends. Let’s delve into the key factors shaping the outlook for 2024. 1. **Interest Rates:** Starting at 6.55%-7.0%, rates will likely dip to 6%-6.5% in summer, possibly dropping below 5% by year-end with a stabilizing U.S. economy. 2. **Inventory Challenges:** Beginning with under 1,700 homes, inventory peaks at 3,000 during summer. The “Hunkering Down” effect may ease, allowing more homes into the market. 3. **Demand Dynamics:** Buyer demand starts slow, but late spring and early summer see an upswing as rates decrease. Affordability improves, reminiscent of the vibrant market from 2020 to mid-2022, with multiple offers and bidding wars. 4. **Closed Sales Surge:** Expect a 12%-18% increase in closed sales compared to 2023, reaching around 23,000 as affordability improves and inventory grows. 5. **Home Values and Market Cycle:** Home values may rise 1%-4%. The market follows a typical cycle, with spring being the strongest, transitioning through summer, autumn, and the holiday season. Luxury housing may see increased volatility in the latter part of the year. In conclusion, 2024 signifies a transitional period for San Clemente’s real estate. As the economy cools and interest rates adjust, heightened demand and increased inventory are expected, with the extent dependent on the timing of the broader economic slowdown. Monitoring economic indicators throughout the year is crucial. Thank you again for your continued support, we hope 2024 brings you and your family joy and prosperity.
Doug Echelberger, CEO
3
TALEGA RESIDENCES REPRESENTED BY DOUG ECHELBERGER
38 Via Alcamo Sold • Represented Seller • Tract: Alta 6 Bed | 6.5 Bath | 5,356 Sf | $3,675,000
The Green Sheet | Inhabit Real Estate
18 Via Alcamo Sold • Represented Seller • Tract: Alta 5 Bed | 5.5 Bath | 4,850 Sf | $2,950,000
51 Via Alcamo Sold • Represented Buyer • Tract: Alta 5 Bed | 5.5 Bath | 4,752 Sf | $2,950,000
13 Via Diego In Escrow • Representing Buyer • Tract: Alta 5 Bed | 5.5 Bath | 5,436 Sf | $3,299,000
5
TALEGA RESIDENCES CONT’D.
21 Calle De La Luna Sold • Represented Seller • Tract: Cantabria 3 Bed | 2.5 Bath | 3,100 Sf | $2,621,500
17 Calle Careyes Sold • Represented Buyer • Tract: Careyes 5 Bed | 5.5 Bath | 5,061 Sf | $3,300,000
The Green Sheet | Inhabit Real Estate
115 Via Plumosa Sold • Represented Seller • Tract: Monterey 4 Bed | 3 Bath | 3,011 Sf | $2,650,000
12 Calle Anacapa Sold • Represented Seller • Tract: Pacifica Summit 5 Bed | 4.5 Bath | 4,372 Sf | $2,350,000
20 Corte Jaime Sold • Represented Seller • Tract: Ravenna 4 Bed | 4.5 Bath | 4,468 Sf | $2,420,000
7
TALEGA RESIDENCES CONT’D. ADDITIONAL RESIDENCES 2023 Closings Address
Tract
Price
Bed
Bath
Garage
SQ FT
38 Via Alcamo
Alta
$3,675,000
6
7
2
5,356*
17 Calle Careyes
Careyes
$3,300,000
5
6
3
5,061**
18 Via Alcamo
Alta
$2,950,000
5
6
4
4,850*
51 Via Alcamo
Alta
$2,950,000
5
6
4
4,752**
115 Via Plumosa
Monterey
$2,650,000
4
3
3
3,011*
21 Calle De La Luna
Cantabria
$2,621,500
3
3
2
3,100*
20 Corte Jaime
Ravenna
$2,420,000
4
5
3
4,468*
12 Calle Anacapa
Pacifica Summit
$2,350,000
5
5
3
4,372*
40 Via Cancion
Miraleste
$1,845,000
4
3
3
3,338*
14 Corte Sevilla
Sandbridge
$1,790,000
3
3
2
3,634*
18 Calle Altea
Bella Vista
$1,725,000
3
4
3
3,604*
10 Calle Verdadero
San Lucar
$1,675,000
4
3
2
2,615*
25 Via Garona
Catania
$1,675,000
4
4
2
2,941*
21 Via Cristobal
Sabella
$1,640,000
5
3
3
2,817*
105 Plaza Via Sol
Terra Linda
$1,650,000
5
3
3
2,888**
5 Corte Sevilla
Sandbridge
$1,600,000
3
2
2
2,401*
50 Avenida Cristal
Carmel
$1,395,000
3
2
2
2,050*
26 Calle Akelia
Sabella
$1,295,000
4
3
2
2,627*
6 Camino Lozano
Carmel
$1,150,000
2
2
2
2,043*
* Represented Seller
** Represented Buyer
The Green Sheet | Inhabit Real Estate
*** Represented Seller and Buyer
MARKET REPORT TOWNHOMES Home Values in December Tract/Street
Status
Price
Price/SQ FT
SQ FT*
Bed/Bath
Garage
Lot Size*
COE
406 Calle Campanero
Active
$799,999
$545
1,468
2/3
2
(A)
12 Paseo Luna
Sold
$700,000
$568
1,232
2/3
2
11.29.23
Sold
$1,450,000
$702
2,066
3/2
2
9.21.23
Pending
$750,000
$540
1,388
2/2
2
(B)
Sold
$830,000
$614
1,351
2/2
2
11.17.23
ALASSIO
CARMEL 66 Avenida Cristal SANTALANA No activity TRINIDAD 10 Camino Celeste VERANO 23 Via Huelva
Call us today for a complimentary home evaluation from Talega’s most experienced real estate agent.
Doug Echelberger 949.463.0400 | doug@echelberger.com
(A): Century 21 Affiliated (B): Gary Fallis Real Estate Svcs The Green Sheet is based on information from the Association of REALTORS®/Multiple Listing Service as of 12.29.2023 and/or other sources. The Talega Green Sheet and MLS data is deemed reliable, but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The properties listed above are not all Inhabit Real Estate and include listings from other brokers. If you notice any incorrect information or a property that is not listed, please call my office immediately at 949.498.7711. To preserve space, old sales before 9.1.2023 have been eliminated.
9
SINGLE-FAMILY HOMES Home Values in December Tract/Street
Status
Price
Price/SQ FT
SQ FT*
Bed/Bath
Garage
Lot Size*
COE
13 Via Diego
Pending
$3,299,000
$607
5,436
5/6
2
9,483
(A)
51 Via Alcamo
Sold
$2,950,000
$621
4,752
5/6
4
12,169
12.22.23
18 Via Alcamo
Sold
$2,950,000
$608
4,850
5/6
4
9,610
10.25.23
5 Via Huesca
Sold
$1,330,000
$595
2,237
3/3
2
4,035
9.25.23
11 Via Oviendo
Sold
$1,299,000
$581
2,237
3/3
2
3,661
9.29.23
Sold
$1,725,000
$479
3,604
3/4
3
7,063
12.7.23
40 Via Adrian
Sold
$1,650,000
$639
2,583
4/3
2
4,737
12.21.23
20 Via Alonso
Sold
$1,555,000
$630
2,469
4/3
2
6,202
12.20.23
34 Via Adrian
Sold
$1,450,000
$597
2,427
3/3
2
5,054
11.28.23
67 Calle Careyes
Active
$3,199,900
$682
4,689
5/6
3
10,454
(B)
15 Calle Sonador
Sold
$3,530,000
$745
4,736
5/6
3
10,672
9.27.23
Sold
$1,700,000
$481
3,538
4/4
3
6,007
12.14.23
26 Via Fontibre
Active
$2,159,000
$609
3,547
5/4
2
5,793
(C)
40 Via Cartama
Sold
$1,799,000
$507
3,547
5/4
2
5,500
9.25.23
13 Via Fontibre
Sold
$1,795,000
$610
2,941
5/4
2
5,837
12.1.23
29 Via Garona
Sold
$1,780,000
$605
2,941
4/4
2
8,389
11.6.23
Sold
$2,500,000
$612
4,082
5/5
3
8,673
10.5.23
ALORA No activity ALTA
AMALFI
BELLA VISTA 18 Calle Altea CANTABRIA No activity CAPRIZI
CAREYES
CARILLON 19 Via Lucena CATANIA
CAZADERO 18 Corte El Brazo
(A): GreenTree Properties (B): Keller Williams OC Coastal Realty (C): Dolce & Associates
The Green Sheet | Inhabit Real Estate
SINGLE-FAMILY HOMES Home Values in December Tract/Street
Status
Price
Price/SQ FT
SQ FT*
Bed/Bath
Garage
Lot Size*
COE
Pending
$1,625,000
$645
2,520
4/3
2
6,540
(A)
Sold
$2,729,000
$580
4,706
5/6
3
9,632
11.13.23
2 Via Belleza
Sold
$2,100,000
$629
3,338
5/4
3
9,883
10.30.23
4 Via Belleza
Sold
$1,725,000
$572
3,015
5/3
3
6,120
10.26.23
324 Via Promesa
Pending
$1,225,000
$421
2,912
4/4
2
6,341
(C)
115 Via Plumosa
Sold
$2,650,000
$880
3,011
4/3
3
11,413
12.8.23
17 Calle Pacifica
Sold
$2,599,000
$600
4,333
5/5
3
9,333
12.18.23
12 Calle Anacapa
Sold
$2,350,000
$538
4,372
5/5
3
6,707
12.11.23
Pending
$2,499,900
$612
4,085
6/4
3
7,622
(D)
ESCALA 27 Via Ceramica FARRALON RIDGE No Activity LUCIA No Activity MIRADOR 23 Calle Canela MIRALESTE
MONTELLANO No Activity MONTEREY
PACIFICA SUMMIT
PACIFICA TALEGA 428 Camino Bandera PORTOFINO No Activity PORTOMARIN No Activity RAVENNA No Activity
(A): Luxre Realty, Inc. (B): Conrad Realtors Inc. (C): Hughes Realty Group (D): Coldwell Banker Realty
11
SINGLE-FAMILY HOMES Home Values in December Tract/Street
Status
Price
Price/SQ FT
SQ FT*
Bed/Bath
Garage
Lot Size*
COE
21 Via Cristobal
Pending
$1,650,000
$586
2,817
5/3
3
5,777
(A)
11 Via Cristobal
Sold
$1,675,000
$637
2,629
4/3
3
5,933
10.10.23
28 Via Cristobal
Sold
$1,440,000
$613
2,351
4/3
2
5,316
12.1.23
24 Paseo Canos
Sold
$1,330,000
$566
2,351
4/3
2
5,248
10.25.23
15 Corte Limonada
Sold
$1,650,000
$524
3,147
4/4
3
7,771
9.11.23
13 Via Destino
Sold
$1,545,000
$591
2,615
4/3
2
5,209
9.8.23
513 Via El Risco
Sold
$2,005,000
$536
3,738
6/5
2
6,212
9.18.23
309 Via Los Tilos
Sold
$1,788,200
$506
3,531
5/5
2
7,405
10.23.23
Sold
$2,425,000
$726
3,340
5/3
2
6,863
10.3.23
Sold
$1,698,880
$643
2,641
5/3
3
4,668
10.3.23
30 Calle Boveda
Sold
$1,260,000
$630
2,000
4/3
2
3,499
10.3.23
19 Calle Tejado
Sold
$1,236,000
$627
1,972
4/3
2
5,500
9.7.23
114 Via Malaga
Sold
$1,725,000
$638
2,702
4/3
3
7,561
12.28.23
229 Via Malaga
Sold
$1,650,000
$571
2,888
5/3
3
5,420
9.5.23
Active
$2,499,000
$499
5,013
6/6
3
10,189
(B)
SABELLA
SAN LUCAR
SAN RAFAEL
SANSOL 14 Corte Vidriosa SEASIDE 18 Calle Almeja SOLANA
STELLA MARE No Activity TERRA LINDA
VITTORIA No Activity VIZCAYA 4 Corte Vizcaya
(A): Inhabit Real Estate (B): DiMarco, Realtors
The Green Sheet | Inhabit Real Estate
SENIOR 55 & OLDER Home Values in December Tract/Street
Status
Price
Price/SQ FT
SQ FT*
Bed/Bath
Garage
Lot Size*
COE
Pending
$1,785,000
$628
2,841
2/2
2
5,389
(A)
Pending
$1,099,000
$535
2,053
2/3
2
3,000
(B)
Active
$1,449,000
$693
2,092
2/2
2
5,026
(C)
Sold Price
Sold $ PSF
$1,927,093
$602
$993,333
$864
SANDBRIDGE 53 Camino Lienzo SEAGARDEN 15 Corte Pinturas WATERLEAF No activity WAVECREST 8 Corte Sagrada
TALEGA AVERAGES Type
List Price
SQ FT
DOM
List $ PSF
Active (4)
$2,401,725
3,835
35
$636
Pending Sale (6)
$2,145,988
3,612
79
$592
Sold (33)
$1,995,778
3,201
32
$623
Active (1)
$799,999
1,468
31
$545
Pending Sale (2)
$924,500
1,721
52
$538
Sold (3)
$984,967
1,550
11
$635
SINGLE FAMILY
CONDO/TOWNHOME
(A): Distinctive Coast Properties (B): Circa Properties, Inc. (C): First Team Real Estate
13
OC MARKET UPDATE 01 The active listing inventory in the past couple of weeks
range represents 12% of the active inventory and 11% of
plunged by 129 homes, down 6%, and now sits at 2,180, its
demand.
lowest level since May. In November, 33% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 743 less. Last year, there were 3,182 homes on the market, 1,002 more homes, or 46% higher. The 3-year average before COVID (2017 to 2019) was 4,988, or 129% extra, more than double. 02 Demand, the number of pending sales over the prior month, decreased by 60 pending sales in the past two weeks, down 5%, and now totals 1,113, its lowest December level since tracking began in 2004. Last year, there were 1,133 pending sales, 2% more than today. The 3-year average before COVID (2017 to 2019) was 1,774, or 59% more. 03 With supply and demand dropping at similar rates, the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, remained unchanged at 59 days in the past couple of weeks. It was 84 days last year, slower than today. The 3-year average before COVID (2017 to 2019) was 87 days, also slower than today. 04 For homes priced below $750,000, the Expected Market Time increased from 41 to 45 days. This range represents 19% of the active inventory and 26% of demand.
09 For homes priced between $2 million and $4 million, the Expected Market Time in the past two weeks increased from 115 to 122 days. For homes priced between $4 million and $6 million, the Expected Market Time decreased from 240 to 213 days. For homes priced above $6 million, the Expected Market Time decreased from 444 to 372 days. 10 The luxury end, all homes above $2 million, account for 35% of the inventory and 13% of demand. 11 Distressed homes, both short sales and foreclosures combined, comprised only 0.4% of all listings and 0.2% of demand. Only five foreclosures and four short sales are available today in Orange County, with nine total distressed homes on the active market, up one from two weeks ago. Last year, 12 distressed homes were on the market, similar to today. 12 There were 1,632 closed residential resales in October, 5% less than October 2022’s 1,726 closed sales. October marked a 1% drop compared to September 2023. The sales-to-list price ratio was 98.9% for all of Orange County. Foreclosures accounted for 0.1% of all
05 For homes priced between $750,000 and $1 million, the
closed sales, and there were no closed short sales. That
Expected Market Time increased from 38 to 42 days. This range
means that 99.9% of all sales were good old fashioned
represents 16% of the active inventory and 22% of demand.
sellers with equity.
06 For homes priced between $1 million and $1.25 million, the Expected Market Time decreased from 44 to 36 days. This range represents 10% of the active inventory and 16% of
For more information on current OC housing market,
demand.
visit our market reports at
07 For homes priced between $1.25 million and $1.5 million,
echelberger.com
the Expected Market Time decreased from 44 to 39 days. This range represents 8% of the active inventory and 12% of demand. 08 For homes priced between $1.5 million and $2 million, the Expected Market Time decreased from 68 to 65 days. This
The Green Sheet | Inhabit Real Estate
We respect your time, and value your business. We know you could go anywhere for your real estate needs, and appreciate having the opportunity to serve you the best way we can. For more information, or to be the first to learn about pocket listings, open houses, market reports, and local events visit us online or call 949.498.7711
DOUG ECHELBERGER HAS A PROVEN TRACK RECORD IN TALEGA REAL ESTATE. “We just closed our second transaction with Doug and his amazing team. From listing to closing they were there to make this a smooth process keeping us in the loop in every way possible. Their extreme knowledge of the real estate market especially in Orange County again put us at ease knowing everything was being handled in our best interest. We can’t say enough about this team, we would highly recommend using any of the Echelberger associates.” - Arianne B.
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Jan/Feb Issue | 2024
Inhabit Real Estate
PRESORTED STANDARD US POSTAGE
302 N El Camino Real, Suite 214 San Clemente, CA 92672
PAID
PERMIT #1007 SANTA ANA, CA
Office 949.498.7711 inhabitrealestate.com
Inhabit Real Estate
Your Home is Here
FROM THE BLOG
A 2024 Forecast
Calendar of Events
SC Train Station Guide
The economy will cool sometime
Events happening in and around
The Orange County Register
in 2024. When that occurs, rates
San Clemente for the month of
published a new blog series called
will drop, and the housing market
January inlcuding Spirit of Dana
“Train Station Dining Guide”? The
will heat up. How hot the housing
Point, NFL Sundays, Laughin’ in
train system in Orange County has
market gets in 2024 depends
SC, Coffee Concerts, Village Art
11 stations, many of which offer a
upon when the overall economy
Faire, and more events for families
bevy of eateries, cafes and cocktail
downshifts.
during the holidays.
spots near the depots.
Read More on the Blog
Read More on the Blog
Read More on the Blog